Brief: Microba Life Sciences To Acquire Invivo Clinical

Microba Life Sciences

19/10/2023 02:22

Oct 19 (Reuters) - Microba Life Sciences Ltd  MAP.AX :
    * MICROBA TO ACQUIRE UK MICROBIOME LEADER INVIVO CLINICAL
    * ACQUISITION EXPANDS MICROBA'S SCALE AND INTERNATIONAL
PRESENCE
WITH FY23 REVENUES OF A$14.3M ON A PRO-FORMA BASIS
    * WILL BE ACQUIRED FOR A PURCHASE PRICE OF APPROXIMATELY
A$12.5
MILLION, PLUS UP TO A$8.7 MILLION IN EARN-OUT CONSIDERATION
    * SIGNED A SHARE PURCHASE AGREEMENT FOR ACQUISITION OF 100%
OF
INVIVO CLINICAL LIMITED
    * EXPECTED ABOUT 87 MILLION SHARES WILL BE ISSUED UNDER
ENTITLEMENT OFFER
    * POST ENTITLEMENT OFFER, MICROBA’S PRO FORMA NET CASH AT 30
SEPT
EXPECTED TO BE  A$28.3 MILLION

Source text for Eikon:  ID:nASX53KQfg 
Further company coverage:  MAP.AX 

 ((Reuters.Briefs@thomsonreuters.com;))